Core Points - Kodak faces significant financial challenges due to a lack of promised financing or available liquidity to repay $500 million in debt, raising serious doubts about its ability to continue operations [2] - The company's stock price plummeted over 25% on July 12, with a further decline of 21% to $5.43 per share on July 13 [4] - Kodak plans to stop pension payments to free up cash for debt repayment and expresses confidence in addressing a substantial portion of its debt before maturity [4] - Founded in 1892, Kodak once dominated the film market but has struggled since the rise of digital cameras, filing for bankruptcy in 2012 and returning to the NYSE in 2013 [6] - The company has diversified into commercial printing, packaging, and film production, and received a $765 million loan from the U.S. government in 2020 to enter the non-patent drug raw materials sector [6] - Investors are questioning whether Kodak can navigate this debt crisis successfully or if it is nearing the end of its operational history [6]

Core Viewpoint - Kodak faces severe financial difficulties due to a lack of promised financing or available liquidity to repay $500 million in debt, raising doubts about its ability to continue operations [1][3]. Financial Performance - Kodak's stock price plummeted over 25% on August 12, and further declined by 21% to $5.43 per share on August 13 [3]. - The company plans to stop pension payments to generate cash for debt repayment and expresses confidence in repaying a significant portion of the debt before maturity [3]. Company History and Context - Founded in 1892, Kodak once dominated the film camera market, holding 90% of the U.S. film market and 85% of the camera market in the 1970s, but has struggled since the rise of digital cameras [4]. - Kodak filed for bankruptcy reorganization in 2012 and returned to the New York Stock Exchange in September 2013, diversifying into commercial printing, packaging, and film production [4]. - The company received a $765 million loan from the U.S. government in 2020 to enter the non-patent drug raw materials manufacturing sector [4]. - There is speculation among investors about whether Kodak can navigate this debt crisis or if it is nearing the end of its operational history [4].

NOMURA 野村东方国际证券 一分钟了解日本 -日本"情绪消费"产业 上期我们介绍了在日本经济转型期下应运而生的三类"情绪消 费"。本期. 我们进一步探索在年轻人这三类情绪消费下衍生出 来的细分产业及产品。 特色住宿产业 Emo和Chill消费 "废校民宿"等 改造酒店兴起,利 即时成像相机 用老旧建筑打造 差异化体验 拍立得在手机拍 照冲击下,借助 户外运动产业 情怀与韩流再度 热销 骑行、登山露营 市场持续增长, "Solo 露营"愈 反能量饮料产业 发流行 内容来源 本内容根据野村东方国际证券2025年1月22日发布的证券研究报告《日本新消费研究之现象篇：情绪、情感和自我满足》 分析师 张影秋 （SAC执证编号：S1720522110001） 曾万霖 （SAC执证编号：S1720524050001） 往期推文回顾 一分钟了解日本｜日本"情绪消费"新潮流 本材料虽由野村东方国际证券有限公司（以下简称"本公司"或"我们"）研究部提供，但并非我们发布的证券 研究报告，仅系我们根据本公司已正式发布的研究报告内容制作。我们不保证本材料内容、观点、文字与正 式出具的研究报告保持完整性、一致性，您应通过查阅本公司正 ...